Stride (NYSE:LRN) Is Doing The Right Things To Multiply Its Share Price
Stride (NYSE:LRN) Is Doing The Right Things To Multiply Its Share Price
What are the early trends we should look for to identify a stock that could multiply in value over the long term? One common approach is to try and find a company with returns on capital employed (ROCE) that are increasing, in conjunction with a growing amount of capital employed. Ultimately, this demonstrates that it's a business that is reinvesting profits at increasing rates of return. Speaking of which, we noticed some great changes in Stride's (NYSE:LRN) returns on capital, so let's have a look.
应该寻找早期趋势来识别可以长期增值的股票。一种常见方法是试图找到一家具有充足资本的公司。最终，这表明它是一个在不断提高回报率的利润再投资的业务。什么是资本雇用回报率（ROCE）？ROCE是一个企业年度税前利润（其回报）与企业资本雇用之间的比率。在 Enphase Energy 的计算公式是：资本雇用回报率=利息和税前收益（EBIT）÷（资产总额-流动负债）。所以，Enphase Energy 的资本雇用回报率为9.9%。单独来看，这是一个较低的资本回报率，但它与行业平均回报率相当。以上你可以看到，Enphase Energy 的当前资本雇用回报率与之前的回报率相比如何，但从过去只能知道这么多。如果你想看看分析师对未来的预测，你应该查看我们免费提供的 Enphase Energy 分析师报告。ROCE 趋势可以告诉我们什么？比起 Enphase Energy，有更好的资本回报率选择。在过去的五年中，该公司增加了 1,306% 的资本，而该资本的回报率保持稳定在 9.9%。这样差的回报率现在并不令人信服，而且随着资本的增加，很明显企业并没有将资金投入到高回报的投资中。说到这个，我们注意到了Stride（纽交所：LRN）资本回报率的巨大变化，让我们来看看。
Understanding Return On Capital Employed (ROCE)
上面您可以看到蒙托克可再生能源现行ROCE与之前资本回报的比较，但过去只能知道这么多。如果您感兴趣，可以查看我们免费的蒙托克可再生能源分析师报告，了解分析师的预测。
If you haven't worked with ROCE before, it measures the 'return' (pre-tax profit) a company generates from capital employed in its business. To calculate this metric for Stride, this is the formula:
如果您以前没有使用ROCE，那么它衡量一个公司从其业务所投资的资本中生成的“回报”（税前利润）。要计算Stride的这个指标，使用以下公式：
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
资产雇用回报率（ROCE）是指企业利润，即企业税前利润除以企业投入的总资本（负债加股权）。如果ROCE高于企业财务成本的承受能力，那么企业就会创造出更多的价值。
0.14 = US$233m ÷ (US$1.9b - US$282m) (Based on the trailing twelve months to March 2024).
0.14 = 2.33亿美元 ÷（19亿美元 - 2.82亿美元）在Elevance Health上，我们已经注意到的趋势是相当令人放心的。数据显示，过去五年资产回报率大幅提高至15％。投资所用资产的规模也增加了30％。这表明有很多机会进行内部资本投资，并以更高的速度不断增长，这种组合在多倍增长方面很常见。.
Therefore, Stride has an ROCE of 14%. In absolute terms, that's a satisfactory return, but compared to the Consumer Services industry average of 7.6% it's much better.
因此，Stride的ROCE为14％。绝对来讲，这是一个令人满意的回报，但与消费服务行业平均水平的7.6％相比，要好得多。
In the above chart we have measured Stride's prior ROCE against its prior performance, but the future is arguably more important. If you'd like to see what analysts are forecasting going forward, you should check out our free analyst report for Stride .
在上图中，我们测量了Stride先前的ROCE与其先前的表现，但未来可能更重要。如果您想查看分析师对未来的预测，请查看我们为Stride提供的免费分析师报告。
What Can We Tell From Stride's ROCE Trend?
Stride的ROCE趋势能告诉我们什么？
Stride is displaying some positive trends. The numbers show that in the last five years, the returns generated on capital employed have grown considerably to 14%. Basically the business is earning more per dollar of capital invested and in addition to that, 144% more capital is being employed now too. The increasing returns on a growing amount of capital is common amongst multi-baggers and that's why we're impressed.
Stride正在展现一些积极的趋势。数字显示，在过去的五年中，所投资资本所产生的回报大幅增长至14％。基本上，这家公司在每消耗一美元的投资资本上获得了更多的收益，并且目前还有144％的资本正在投入运营。在增加资本的同时不断提高回报率，在多倍股上很常见，这就是为什么我们印象深刻的原因。
The Key Takeaway
重要提示
To sum it up, Stride has proven it can reinvest in the business and generate higher returns on that capital employed, which is terrific. Since the stock has returned a staggering 125% to shareholders over the last five years, it looks like investors are recognizing these changes. Therefore, we think it would be worth your time to check if these trends are going to continue.
总之，Stride已经证明了，它能够再投资业务并在所投资的资本上产生更高的回报率，这是非常棒的。由于该股在过去的五年中为股东带来了惊人的125％回报，看起来投资者正在认识到这些变化。因此，我们认为检查这些趋势是否会持续下去是值得您的时间。
On the other side of ROCE, we have to consider valuation. That's why we have a FREE intrinsic value estimation for LRN on our platform that is definitely worth checking out.
而在ROCE的另一侧，我们必须考虑估值。这就是为什么我们在我们的平台上有一个免费内在价值估算，这肯定值得一看。
While Stride may not currently earn the highest returns, we've compiled a list of companies that currently earn more than 25% return on equity. Check out this free list here.
虽然Stride可能当前的回报率不是最高的，但我们已经编制了一份目前获得超过25％股权回报率的公司名单。在这里免费查看此列表。
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